This is in Texas. It’s been more than four months since the first sales. I realize it is not unusual to take that long (or longer) to receive the first check. But just wondering, If you have ever received interest from an operator, at what point in time did you request it? Before receiving the first royalty check or afterward?
It never hurts to place the purchaser/producer on notice. Some are better on responses than others. good luck.
Check your lease for language regarding payment terms. For example, one of mine says the following:
“All royalty payments on actual productions shall be due within ninety days after the end of the month in which the production occurred. Should Lessee default in such payment, if Lessee does not remedy the default within fifteen days after Lessor notifies Lessee of the default in writing, Lessee must pay interest on the said unpaid royalty to the Lessor beginning at the end of said 15 days at the rate of 12% per annum. Said notice to Lessee shall be deemed given when sent to Lessee by certified mail to his or its address set forth in this lease.”
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Good catch Steve. I believe that may be statutory language/reference for TX, so the Lessee is not giving up all that much by the inclusion. This may also apply to OGL’s without this clause.
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